The Allstate Corporation (NYSE: ALL) today announced its board of directors has approved a quarterly dividend of 28 cents on each outstanding share of the corporation's common stock, payable in cash on April 1, 2014 to stockholders of record at the close of business on March 3, 2014. This represents a 12 percent increase from the dividend declared in the previous quarter.

In addition, the Allstate board approved a $2.5 billion common stock repurchase program, to be completed over the next 18 months.

"Allstate continues to provide shareholders with attractive cash returns through quarterly dividends and common share repurchases," said Thomas J. Wilson, chairman, president and chief executive officer of The Allstate Corporation. "We paid out $2.5 billion in dividends and share repurchases over the last 13 months. Allstate maintains the capital strength and flexibility to increase shareholder value and capitalize on growth opportunities, with $2.6 billion in holding company deployable assets at year-end 2013."

The Allstate Corporation (NYSE: ALL) is the nation's largest publicly held personal lines insurer, serving approximately 16 million households through its Allstate, Encompass, Esurance and Answer Financial brand names and Allstate Financial business segment. Allstate branded insurance products (auto, home, life and retirement) and services are offered through Allstate agencies, independent agencies, and Allstate exclusive financial representatives, as well as via www.allstate.com, www.allstate.com/financial and 1-800 Allstate®, and are widely known through the slogan "You're In Good Hands With Allstate®."